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Friday, May 24, 3:41 AM
The yen is higher vs the dollar as volatility in the currency markets somewhat echo the gyrations in Japanese stock markets. Bank of Japan Governor Haruhiko Kuroda says that the BOJ has no set target for the yen and that stability in Japanese debt market is "extremely desirable." His comments follow the extreme instability yesterday, when 10-year JGB yields rose as high as 1%, prompting the BOJ to step in with a fund-supplying operation. Dollar -0.5% at -¥101.54.
Comment![Global & FX, Top Stories]
Thursday, May 23, 9:07 PM
A rebound in Tokyo sees the Nikkei (EWJ) gaining 3% in early action following yesterday's 7% dive. A weaker yen (FXY) is helping, dollar/yen gaining 0.4% to ¥102.37.
6 Comments[Global & FX]
Tuesday, May 21, 11:38 AM
In case anyone was curious, Kyle Bass continues to bet on a full-blown Japanese currency (FXY) and government debt (JGBT, JGBL, JGBS, JGBD) crisis. "This gross vs. net argument is just silly," says Bass alluding to large official and other domestic holdings of JGBs. "If they go to try and sell any of those assets, it will create a panic." Bass commissioned a poll of Japanese investors asking their reaction if the government asked them to buy JGBs amid a crisis: 8% said they would buy, 83% said they would "run, not walk" from the paper.
2 Comments[Global & FX]
Monday, May 20, 11:27 AM
Silver's (SLV -0.6%) 9% plunge in the first minutes of trading overnight is being linked to hawkish talk from Japanese Economy Minister Akira Amari who warned the yen's (FXY +0.7%) fast decline may be hurting the economy. One fails to see the connection but dollar/yen did dive along with silver and Andrew Wilkinson suggests hedge funds short the yen were forced to raise cash by bailing on stale silver longs.
11 Comments[Commodities, On the Move]
Friday, May 17, 3:46 PM
The yen (FXY -0.9%) legs down to a new multi-year low - the dollar now buying ¥103.24 - continuing a truly remarkable move since late last year. It's an instance where politicians told you they were going to devalue, every trader and strategist around told you they were shorting the yen, and sure enough the yen went down ... hard, and in as straight of a line as markets ever allow. Ah, if it were always that easy. Other ETFs: JYN, YCL, YCN.
4 Comments[Global & FX, On the Move]
Friday, May 17, 7:29 AM
Copy the Goldman aussie forecast to the yen - its quick tumble also forcing the team to revise lower its already bearish forecasts. The analysts now see the dollar buying ¥110 twelve months out vs. ¥105 previously. The yen's (FXY) marginally stronger this morning, the dollar buying ¥102.40.
Comment![Global & FX]
Monday, May 13, 4:56 AM
The yen (FXY) continues its slide , falling to a new four-and-a-half year low against the dollar, helping the Nikkei (NKY) post another triple-digit gain on the session, rising 1.2% to 14782, its highest level since January 2008. The weak yen comes on the heels of the G7's reportedly amicable meeting over the weekend, at which officials were generally supportive of the BOJ's policies and reiterated that Japan's goal is to fight deflation not engage in the targeting of exchange rates.
4 Comments[Global & FX]
Sunday, May 12, 9:49 PM
In Japan, the Nikkei (NKY) scales yet another new five-year high, rising 1.39% ahead of key Chinese economic data.
Comment!
Friday, May 10, 4:37 AM
For the first time since April of 2009, the yen (FXY) fell through the 100-level against the dollar, helping the Nikkei rally nearly 3% on the session and almost 7% on the week. Japanese equities (EWJ) are now trading at levels last seen in January of 2008. Japanese capital flows data finally showed what many had been waiting for since BOJ Governor Kuroda's shot across the bow at deflation: an outflow, as Japanese investors became net buyers of foreign bonds.
6 Comments[Global & FX]
Thursday, May 9, 1:26 PM
The yen (FXY -0.8%) has weakened sharply in the last few minutes, with the dollar making another run at ¥100, currently buying ¥99.80. A move into triple digits would be the first time that high for the greenback in 4 years.
4 Comments[Global & FX, On the Move]
Wednesday, May 8, 4:33 AM
Fears that flagging demand in the U.S. and Europe would weigh heavily on China's trade data didn't play out, as exports grew 14.7% in April, helping the country swing to a surplus of $18.16B after posting a slight deficit in March. The data surprised analysts, even as some say the numbers may be inflated: "This probably reflects some overinvoicing [as] it was inconsistent with cargo volumes," one economist tells WSJ. Nevertheless, the data serves to buoy regional markets as the Nikkei (NKY) continues its ascent in Japan, rising 0.74% to yet another new five-year record high.
Comment![Global & FX]
Tuesday, May 7, 4:37 AM
In Japan, stocks (EWJ) come off a long weekend well-rested and promptly rally to near five-year highs as the Nikkei surges 3.55% on the back of Friday's strong U.S. jobs data. Meanwhile, Australia's central bank cut rates by 25 basis points, sending the aussie (FXA) down 0.6% to two month lows against the dollar.
5 Comments
Monday, April 29, 3:09 PM
Excitement for shorting the yen (FXY) has cooled among BAML's hedge fund clients, according to the firm's latest Macro Monitor. More or less a one-way trade for many months, the dollar hit a ceiling of ¥100 earlier this month and has fallen back (currently ¥98). Another popular short, the British Pound (FXB) has been costing traders money and forcing them to cover, a trend BAML suggests isn't fully played out.
Comment![Global & FX]
Friday, April 26, 11:10 AM
The yen (FXY +1.6%) races higher, unwinding a bit of what had been about the world's most one-sided trade for the last 6 months. First comes price action then come excuses, and about the best reasons for today's slide in dollar/yen is the BOJ upping its economic forecast at last night's policy meeting, and the weak U.S. GDP print. The surging yen is hitting the year's hottest ETF, DXJ -1.7%.
2 Comments[Global & FX, On the Move]
Friday, April 19, 3:05 PM
The yen weakens further as the G-20 statement (word doc) shows the gang agrees Japan's stimulus efforts are necessary and not aimed at devaluing the yen. Speaking to reporters, however, Canadian finmin Flahery says the yen wasn't discussed. Go figure. FXY -1.4%, with the dollar threatening to push over ¥100Y, now at ¥99.58.
Comment![Global & FX]
Tuesday, April 16, 8:28 AM
After continuing to strengthen sharply in early trade overnight, the yen is back in full retreat, down more than 1% vs. the dollar which is now buying ¥97.88. Along with the big reversal came a big swing in the Nikkei, which fell more than 2% at one point, but closed down just 0.4%. FXY -1.1%, EWJ +0.6%, DXJ +0.5% premarket.
Comment![Global & FX, On the Move]
ACEMAN We are buying the YEN: YCL and FXY along with IAU, SLV and NVGN to take advantage of all sorts of volatility of the dynamic kind.
8/19/11
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Cliff Wachtel Top FX Up-trends Feb 9-16: USDJPY, GBPUSD EURJPY GBPJPY -See hour charts--ETF:SHORT FXYYCLLONGYCS, BINARY OPTION: calls on these pairs
2/16/11
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Cliff Wachtel Top FX Up-trends Feb 9-16: USDJPY, GBPUSD EURJPY GBPJPY -See hour charts-THEME: JPY WEAK- ETF:SHORT FXYYCLLONGYCS, binary option JPY put?
2/16/11
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Cliff Wachtel Top FX trends Feb 9-16: UP: USDJPY, GBPUSD EURJPY GBPJPY -See hour charts-THEME: JPY WEAK- ETF:SHORT FXYYCLLONGYCS, binary option put?
2/16/11
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candlestickpicks $YCL completed a Black Hammer candlestick pattern on 02/11/2011. Look for an upward price movement on 02/14/2011
2/13/11
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Jim Van Meerten YCL - Ultra YEN ETF - 96% Barchart buy signal-20 new highs in the last 20 sessions-up 11.66% last month-Relative Strength 77.52% and rising